§ Mr. Crouchasked the Secretary of State for Trade and Industry if he will now change the rules governing political risk cover from the Export Credits Guarantee Department to allow an increase from six months to one year for chemicals for export to developing and some Eastern bloc countries, in view of the present decline in trade for these export markets.
§ Mr. ChannonThe existing arrangements for supporting exports of chemicals are agreed between ECGD and its opposite numbers in other countries. I have considered my hon. Friend's suggestion, but do not think that any change is justified at present. ECGD will not support credit terms exceeding six months, save for certain very large contracts for agricultural chemicals on 12-months credit, or where longer credit is necessary to match terms being supported by other official credit insurers. Any evidence of such support by others would be given serious consideration.